'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
MG Motor India is investing Rs 2,500 crore by the end of next year to increase the production capacity at its Halol plant in Gujarat, as it gears up to launch its mid-size SUV Astor, according to a top company official. Despite the worsening semiconductor shortage situation, which is likely to continue for at least another six months, the company expects its sales this year to grow by up to 100 per cent over last year. "We have done an investment of Rs 3,000 crore already, and by the end of next year, we will do another Rs 2,500 crore. "We will reach a total of Rs 5,500 crore," MG Motor India president and managing director Rajeev Chaba told PTI.
With petrol costs going through the roof, it may not be too long before a diesel suberbike hits the Indian roads.
From powering mobile devices, US chip designer Qualcomm has tied up with Ola Electric to power its electric scooters. Qualcomm is providing the key 4G connected octa core android platform which provides connectivity, computing capabilities and enables rich immersive displays with power saving software.
North American automotive executives have picked India over China as the most popular offshore destination for the migration of business processing activities, according to a new survey.
Seven years after it announced Nexa, there's no mistaking the seriousness with which Maruti wants the segment to grow, says Pavan Lall.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
'Industry realises we cannot overly depend on imports from anywhere including China.'
Tata Motors plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead, as per Tata Motors chairman N Chandrasekaran. In his message to the shareholders, he noted that the auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles. "In India, EV penetration in our portfolio has now doubled to 2 per cent this year and we expect penetration to increase exponentially in the coming years. "Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles and as a Group, we will invest proactively to set up charging infrastructure across the country," Chandrasekaran informed shareholders in the company's Annual Report for 2020-21.
The Freelander, a compact yet premium 4X4 SUV, is sold in large European markets.
Lord Swraj Paul's Caparo Group has announced a major expansion of its operations in India with the addition of three automotive components manufacturing plants.
Automotive giant General Motors will make fresh investments in India to expand its Opel product line with a few models lined up for release this year.
Using available government data, the team is targeting $30-40 billion worth of iron and steel products that are imported into India.
Government needs to promote electrification and charge points and make sure India has stable power supply.
The AMT gear box may not seem like much of technology wizardry, but the seamless gear changes it facilitates is commendable.
Mahindra & Mahindra gets the biggest impact of the Supreme Court's ban on sale of vehicles in Delhi with diesel engines bigger than 2,000cc.
The emission is nine times more than cap; Volkswagen denies the claim.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
He says that while 30 per cent of parts must be locally sourced, the supply doesn't yet exist in India to support that
Zippy and comfortable, the Mini Convertible is a perfect car for short jaunts, but this isn't the ride you'd choose to take your entire family to the airport or pick for a long family excursion, says Pavan Lall.
Maruti's compact segment comprising New WagonR, Swift, Celerio, Ignis, Baleno, Dzire, and utility vehicles, including Gypsy, Ertiga, XL6, S-Cross and Vitara Brezza saw robust sales, while the mini segment comprising Alto, S-Presso and Old WagonR saw negative growth.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
Despite the romance around the car and its early models, Fiat in India will also be remembered as a brand that frittered away the first mover advantage, says Shally Seth Mohile.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
Amid a slowdown in the automotive industry, the Automotive Component Manufacturers Association of India asked the government to continue providing export incentives to domestic manufacturers, while expressing concern over India's growing number of free trade agreements.
To merge arms, sell stake in combined entity to CIE for Rs 770 cr; to use proceeds to buy 13.5% in Spanish firm for Rs 740 cr
The Mahindra BAJA SAE India recently held its annual challenge for undergraduate engineers.
From real estate to metals, what Sitharaman's Budget has in store.
An all new bike maker has arrived in India introducing its cruiser bike, the UM Renegade Commando. Team MotorOctane shares the details.
